Join our investing community

How to 'go with my gut'

Discussion in 'General Investing Discussion' started by Damoz89, 30th Dec, 2010.

  1. Damoz89

    Damoz89 Member

    Joined:
    8th Dec, 2010
    Posts:
    5
    Location:
    VIC
    I do a lot of reading, and a lot of research, especially on the internet, I absorb hundreds of articles a day as well as various opinions and skim message boards. After a while I begin to identify a trend, or an opportunity if you will.

    The problem is, I then go and consult other people, parents, friends, family... and all I get is disgusting pessimism, they dismiss it, or talk it down. So I put the brakes on the idea.

    It's so annoying, how can I just learn to go for it?
    I'd be a lot better off if I have..
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Hi Damoz

    I don't mean to be cute about it, but I think you already know the answer. Namely:

    So stop consulting people without the experience or skills to objectively comment. Free advice tends to be worth what you pay for it. Just go with your gut and see what happens. Perhaps start small?

    Good luck with it.

    Cheers
    N
     
  3. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    Close the door and get everyone out!

    We have to learn from others and get help as much as possible for us to get intelligent data. Here "as much as possible" is the key, which means you have to move yourself into another stage for your decision! If you could not get anything from others for your own ways, it is the time to close the door to do the intelligent data analysis, make the judgment of the future development with your affordable resource or capital, and decide which options is the one you should pick up!

    Nothing is risk free. Nothing could be secured except the possible loss. So we just need to think if we are wrong could we like to accept the loss! Usually when we feel perfect we would lose the future opportunities too. We do need to take the right risks for right probability to win with good enough margin of safety.

    Are you sure it is a risk with some great opportunities? Are you sure you are OK if everything against you? Are you sure you have multiple chances for future which could make you better off? Are they virtual few? Are they trivial many? Put all of time to get you in protection if they are virtual few! All of these are matters no one could help you if you are a decision maker!

    Get a few books about Critical Thinking, which would give you the gut!